Nexa Resources (NYSE:NEXA) Hits New 1-Year High – Here’s Why

by · The Cerbat Gem

Nexa Resources S.A. (NYSE:NEXA – Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $10.34 and last traded at $10.2890, with a volume of 88088 shares changing hands. The stock had previously closed at $10.11.

Wall Street Analyst Weigh In

NEXA has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. Wall Street Zen upgraded Nexa Resources to a “buy” rating in a research report on Saturday, November 1st. Scotiabank raised their price objective on shares of Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Finally, Morgan Stanley set a $7.70 target price on shares of Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Six investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $6.67.

Check Out Our Latest Research Report on NEXA

Nexa Resources Trading Up 7.4%

The stock has a market capitalization of $1.44 billion, a PE ratio of -90.33, a P/E/G ratio of 0.29 and a beta of 0.57. The company’s 50 day moving average price is $7.47 and its two-hundred day moving average price is $5.90. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60.

Nexa Resources (NYSE:NEXA – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). The company had revenue of $763.52 million for the quarter, compared to analysts’ expectations of $649.86 million. Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%. As a group, analysts expect that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new stake in Nexa Resources in the 3rd quarter valued at about $57,000. GSA Capital Partners LLP grew its holdings in Nexa Resources by 7.5% during the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after acquiring an additional 2,504 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Nexa Resources by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after purchasing an additional 26,829 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of Nexa Resources by 142.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after purchasing an additional 35,411 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Nexa Resources by 124.1% in the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after buying an additional 40,535 shares during the last quarter.

Nexa Resources Company Profile

(Get Free Report)

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.

Read More